The standard Cost for one unit of product is: : During the month of May, the company produced 100 units. It purchased and used 500 pounds of materials at $.60 per pound. Additionally, the company incurred 220 direct labor hours at a cost of $7.80 an hour. 1) Calculate the direct material price variance and the direct material quantity variance. What is the total direct material 2) Calculate the direct labor rate variance and the direct labor efficiency variance. What is the total direct labor variance